Seoulin Bioscience Co.,Ltd. announces an Equity Buyback for KRW 1,000 million worth of its shares.
August 08, 2019 at 01:10 am EDT
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Seoulin Bioscience Co.,Ltd. (KOSDAQ:A038070) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,000 million worth of its shares pursuant to a contract with Daishin Securities. The purpose of the program is to improve shareholder value and to stabilize stock price. The program will expire on February 8, 2020. As of August 7, 2019, the company had 213,834 shares in treasury within scope available for dividend and no shares in treasury through other repurchase.
Seoulin Bioscience Co., Ltd is a Korea-based company engaged in the developing and manufacturing of basic equipment for bio research. The Company mainly engages in research and development of reagents, such as deoxyribonucleic acid (DNA) chips, which are used for gene therapy, clinical diagnosis, organs transplantation and biopsy; stem cells, which are used for treatment of incurable diseases, Alzheimer disease and others, and next-generation biotechnology drugs. The company supplies its products under the brand name MyLab. It also imports bio research equipment from Thermo Fisher, Affymetrix, Sarstedt and others, and markets in the domestic market. In addition, the Company engages in the real estate rental business.